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svetlana [45]
3 years ago
14

When supply decreases and demand increases, what happens to the price of a good?

Social Studies
2 answers:
vfiekz [6]3 years ago
8 0

Answer: B. it increases

Explanation:

According to the law of demand, as the price of a good or service increases, the: Quantity demanded of the good or service will decrease. If good A is considered to be an inferior good, when incomes rise: The demand for good A will decrease and the demand curve will shift to the left.

Rama09 [41]3 years ago
4 0

Answer:

It increases

Explanation: It would increase since there is a higher demand and less supply, the product would be rare. When a product is rare, the price will most likely go up due to the scarcity of the object.

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